Polymarket Tops $1.8 Billion Annualized Revenue as U.S. Exchange Volume Hits $14.5 Billion
Updated
Updated · CNBC · Nov 10
Polymarket Tops $1.8 Billion Annualized Revenue as U.S. Exchange Volume Hits $14.5 Billion
2 articles · Updated · CNBC · Nov 10
Summary
$1.8 billion in annualized revenue marks a sharp jump from more than $1 billion in June, with Polymarket saying its U.S. exchange is driving the gain.
$14.5 billion in October notional volume on the domestic venue, up from $4 billion in June, was fueled by heavy trading around the FIFA World Cup and the NFL season.
Combo event contracts — similar to sportsbook parlays — have become a major engine of activity, accounting for more than 70% of platform volume on Sunday.
The growth comes as Polymarket pursues a fresh $1 billion funding round at a $21 billion valuation, even as a CFTC investigation examines its advertising and past U.S.-access controls.
How will Polymarket sustain its massive $21 billion valuation while facing intense regulatory investigations over alleged insider trading and deceptive marketing tactics?
What happens to the booming prediction market sector if regulators determine these platforms are merely unregulated sportsbooks disguised as financial exchanges?
Are multi-leg combo contracts a revolutionary prediction tool, or just a psychological trap designed to exploit retail traders with dismal payout rates?